Natixis Advisors LLC Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Natixis Advisors LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,738 shares of the biotechnology company’s stock, valued at approximately $1,297,000.

Several other institutional investors also recently made changes to their positions in the stock. PGGM Investments grew its holdings in shares of BioMarin Pharmaceutical by 12.0% during the 4th quarter. PGGM Investments now owns 243,682 shares of the biotechnology company’s stock worth $16,017,000 after purchasing an additional 26,101 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in BioMarin Pharmaceutical by 29.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 77,598 shares of the biotechnology company’s stock valued at $5,081,000 after buying an additional 17,729 shares in the last quarter. Tredje AP fonden grew its stake in BioMarin Pharmaceutical by 662.6% during the fourth quarter. Tredje AP fonden now owns 223,664 shares of the biotechnology company’s stock worth $14,701,000 after buying an additional 194,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BioMarin Pharmaceutical by 206.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company’s stock worth $23,432,000 after acquiring an additional 240,239 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of BioMarin Pharmaceutical by 37.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,950 shares of the biotechnology company’s stock valued at $391,000 after acquiring an additional 1,630 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BMRN shares. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Monday, February 24th. Scotiabank upped their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $71.53 on Wednesday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The business has a 50 day simple moving average of $66.83 and a 200-day simple moving average of $67.78.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.